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In what sense are big banks private businesses? Banks, especially the big ones, will always be bailed out in a crisis. We've just had a demonstration about a d
by oldgradstudent 6y ago
In what sense are big banks private businesses?
Banks, especially the big ones, will always be bailed out in a crisis. We've just had a demonstration about a decade ago.
- simonh 6y agoEveryone gets bailouts at some level, hence welfare, stimulus cheques, Medicare and Medicaid in the US. More so over here (Brit). Financial services get very heavily regulated which imposes huge costs, so it is arguable that imposes a certain level of obligation on government. I think that’s a reasonable case, though I’m not entirely happy with the way it’s been handled in practice. It’s not a perfect world.